Empiretouch
Empire Mortgage Corporation formed by Eleanor Harper in 1994 right after many foreclosures and high interest rates in the 1980's were raging was out of control. The housing market had hit some hard times and many people were discouraged as to what to do with their homes. Nothing seemed affordable.
I knew nothing about mortgages or how they worked. I did'nt even know their were many choices in loans for a home. Before forming Empire, I went to work for a small brokerage firm and learned the ins and outs of mortgages. I struggled as to why people did not know more about what they were getting themselves into with a new mortgage loan. After all 
that is the most expensive purchase that most people will ever make. But looking back I really did not know much about the mortgage that I had obtained back in 1980. I do not remember anyone educating me on what was available in mortgaging my home. Since that time I felt the need to tell people that their are choices in affordable mortgages and help them make the right decisions for their particular situation. So thus I formed my own company and operated it.
My experience has been my own path. The interest rate at that time was 9.5% which was an excellent rate since most rates were at 15% to 18%. After 16 years, the value had gone up so much that I sold it with a 100% profit and then rented until I could build. I bought a beautiful piece of land with a beautiful view, had blue prints made and prepared to get my permits and build. I ran into a huge snag and was not able to continue because of covenants. Eventually I sold that property and sat for about 7 years and kept looking for just the type of house that would be affordable for me. I finally found one and bought it in 1997. Interestingly the interest rate had not gone down very much. I bit the bullet and took a 9.5% interest rate and kept it for 2 years and then refinanced into an option arm mortgage. I still have that same loan today. Any questions, my email is eiharper@earthlink.net
